NEW YORK, October 19, 2017 /PRNewswire/ —
Q BioMed Inc. (OTCQB: QBIO), a biotechnology acceleration company, announced today that it has successfully developed a new and proprietary analog of QBM-001 in partnership with Sphaera Pharma for its intended use in pediatric developmental nonverbal disorder.
The novel analog was selected from an array of candidates that Sphaera Pharma’s patented platform produced and QBM-001’s pharmacodynamics demonstrated the best improvement in safety without compromising efficacy.
“We are very pleased to have successfully reached our developmental milestone with great results thus far, putting us in position to help these young children as well as their parents and caregivers,” said Denis Corin, CEO of Q BioMed. “We are highly motivated to develop a drug and delivery system that will accommodate their very specific needs. As a result of meeting this milestone, we are now in a position to move QBM-001 into the clinic as quickly as possible.”
The complete panel of preclinical testing is scheduled to finish in January of 2018. In parallel, Q BioMed is pursuing cGMP manufacturing and regulatory filings in preparation for the IND.
The proprietary analog will also provide Q BioMed with a global composition of matter patent for QBM-001. This will ensure that QBioMed can pursue the abbreviated 505(b)2 regulatory pathway in the USA to hopefully provide toddlers benefit from QBM-001 as soon as possible.
About Pediatric Development Nonverbal Disorder
There are approximately 20,000 new cases of pediatric developmental nonverbal disorder in the USA each year and a similar amount in Europe. The majority of the children are diagnosed as toddlers and fall within the autism and epilepsy spectrum disorders. Individually, the economic costs for toddlers that become non- or minimally verbal is ten million on average per person over their life. Collectively, an estimated 200 billion dollars is spent yearly on individuals who have become nonverbal in the USA. Not all individuals who become nonverbal will benefit from QBM-001, but testing from a trained specialists and blood tests, coupled with genetic testing can identify a targeted population that will have a higher likelihood of responding to treatment.
About Q BioMed Inc.
Q BioMed Inc. “Q” is a biomedical acceleration and development company. We are focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q is dedicated to providing these target assets; strategic resources, developmental support, and expansion capital to ensure they meet their developmental potential, enabling them to provide products to patients in need.
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
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